Five Star Professional partnered with HOUR Detroit and DBusiness to recognize a select group of Detroit area wealth managers who provide quality services to their clients. Frank S. Arvai, CPA, PFS, CFP® is featured, along with other award winners, in a special section of the June issue.

“It is a privilege to be named again among as a Five Star Wealth Manager in Detroit. I am also honored to work with a team of talented and respected professionals and be able to provide excellent service that our clients have come to expect,” says Frank S. Arvai, CPA, PFS, CFP® of Mutual Fund Management Co.

The Five Star Wealth Manager award program is the largest and most widely published award program in the financial services industry. The award is based on a rigorous, multifaceted research methodology, which incorporates input from peers and firm leaders along with client retention rates, industry experience and a thorough regulatory history review.

“Based on our evaluation, the wealth managers we recognize are committed to pursuing professional excellence and have a deep knowledge of their industry. They strive to provide exemplary care to the people they serve.” Dan Zdon, CEO, Five Star Professional.

Now entering its 12th year, Five Star Professional conducts in-depth, market-specific research in more than 45 markets across the United States to identify premium service professionals.

Wealth manager award candidates are identified through firm nominations, peer nominations and industry qualifications, and then evaluated on 10 objective eligibility and evaluation criteria, including client retention rates, client assets administered, firm review and a favorable regulatory and complaint history.

Self-nominations are not accepted, and wealth managers do not pay a fee to be considered or awarded. The award is not indicative of the wealth manager's future investment performance. For detailed information on the Five Star Wealth Manager research methodology visit http://www.fivestarprofessional.com.

The Five Star Wealth Manager award, administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria: 1. Credentialed as a registered investment adviser or a registered investment adviser representative; 2. Active as a credentialed professional in the financial services industry for a minimum of 5 years; 3. Favorable regulatory and complaint history review (unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through Five Star Professional’s consumer complaint process*); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients; 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations.

Wealth managers do not pay a fee to be considered or awarded. Once awarded, wealth managers may purchase additional profile ad space or promotional products. The award methodology does not evaluate the quality of services provided and is not indicative of the winner’s future performance. 2,238 award candidates in the Detroit area were considered for the Five Star Wealth Manager award. 627 (approximately 29 percent of the award candidates) were named 2015 Five Star Wealth Managers.

*To qualify as having a favorable regulatory and complaint history, the person cannot have: 1. been subject to a regulatory action that resulted in a suspended or revoked license, or payment of a fine, 2. had more than three customer complaints filed against them (settled or pending) with any regulatory authority or Five Star Professional’s consumer complaint process, 3. individually contributed to a financial settlement of a customer complaint filed with a regulatory authority, 4. filed for bankruptcy, or 5. been convicted of a felony.